Guggenheim Issues Pessimistic Forecast for Jack in the Box (NASDAQ:JACK) Stock Price

Jack in the Box (NASDAQ:JACK) had its price target lowered by Guggenheim from $95.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other brokerages have also recently commented on JACK. The Goldman Sachs Group reduced their target price on Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. UBS Group reduced their price objective on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, October 4th. Loop Capital decreased their price objective on Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Truist Financial dropped their target price on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler lowered their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Jack in the Box has an average rating of “Hold” and a consensus target price of $60.38.

Jack in the Box Stock Down 0.6 %

Shares of NASDAQ JACK opened at $47.50 on Wednesday. Jack in the Box has a 52-week low of $40.84 and a 52-week high of $86.20. The company’s 50-day simple moving average is $46.34 and its 200-day simple moving average is $50.21. The firm has a market cap of $908.68 million, a price-to-earnings ratio of -23.87, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93.

Jack in the Box Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Thursday, December 12th. Jack in the Box’s dividend payout ratio is presently -88.44%.

Insider Buying and Selling

In other news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. This represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Jack in the Box

A number of hedge funds and other institutional investors have recently modified their holdings of JACK. DekaBank Deutsche Girozentrale purchased a new position in Jack in the Box during the third quarter worth about $41,000. EntryPoint Capital LLC raised its stake in shares of Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 366 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Jack in the Box by 172.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock worth $100,000 after acquiring an additional 1,354 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Jack in the Box during the 3rd quarter worth approximately $185,000. Finally, MML Investors Services LLC increased its holdings in Jack in the Box by 20.3% in the 3rd quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 819 shares during the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.